The Organisation of American States, Washington and the European Union have been pressing Micheletti to accept the accord that calls for Zelaya to return and lead a national unity government for the few months left in his term, and for a political amnesty that would protect both the coup plotters and the ousted head of state.
While Zelaya has accepted the plan, Micheletti flatly rejects the re-instatement of the elected head of state.
Both the US and the EU have indicated that they will not recognise the winner of Honduras' Nov 29 presidential election unless Zelaya is restored to office.
Zelaya was arrested and expelled from the country by the military June 28, when lawmakers designated Congress speaker Micheletti as head of government.
Micheletti says Zelaya's ouster was not a coup, insisting that the soldiers who dragged him from his palace were simply enforcing a Supreme Court ban on Zelaya's planned plebiscite on the issue of revising the constitution.
While the coup leaders accuse Zelaya of seeking to extend his stay in office by this constitutional method, any such change favouring presidential re-election would not have taken place until the incumbent stepped down.